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5059 Irvine Drive Douglasville, GA 30135

4 Beds 3 Baths 2,888 sqft Built 2007

$285,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $98.68
  • 3 Days on Market
  • MLS # : 6811154
  • Updated Date : 11/21/2020 at 08:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,888 sqft
  • Baths : 3 full
Listing Agent's Description

This is the One! This Beautiful Craftsman Style Home has been Well Maintained & it Shows! With the High Ceilings, & Two Story Foyer that Opens Up to the Family Room & Kitchen, What More Could You Ask For?! The Large Bedrooms Give you Plenty of Opportunity to Decorate! Not to Mention the Bedroom on the Main Level Which is a Bonus for Guests. You'll Have Plenty of Privacy With the Fenced in Backyard. Don't Wait to See It! This Will Go Soon!

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Headquarters to twenty-six Fortune 500 companies: The Home Depot, UPS, Delta Air Lines, The Coca-Cola Company, SunTrust Banks, The Southern Company, AGCO, PulteGroup (Fortune, 2018/ Metro Atlanta Chamber)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)

PRICE & RENT TRENDS

Zip Code: 30135

ZipNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200kPrice in $100k209k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 30135

ZipNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500Rent in $9311509

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Mount Carmel Elementary School Primary Regular 498 32 5
Chestnut Log Middle School Middle Regular 711 45 4
New Manchester High School High Regular 1,680 95 4

Mount Carmel Elementary School

  • Education Level: Primary
  • # of students: 498
  • # of teachers: 32
5
GreatSchools Rating

Chestnut Log Middle School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 45
4
GreatSchools Rating

New Manchester High School

  • Education Level: High
  • # of students: 1,680
  • # of teachers: 95
4
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,052
Property Tax -$331
Property Insurance -$83
HOA -$56
Property Management Fees -$119
CASH FLOW
$210

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$285,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$31,817

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,850

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,858

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8503$1,8954$2,000
$2,000
RENT COMPS ANALYSIS
  • 5059 Irvine Drive Douglasville, GA 2
    • 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.64
    •  
  • 3980 Tarnwood Place Douglasville, GA 1
    • 4 beds 3 baths ∙ 2,699 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,699 Sqft ∙ Built 2016
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.68
    •  
  • 9334 Opal Drive Douglasville, GA 3
    • 5 beds 3 baths ∙ 3,145 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,145 Sqft ∙ Built 2006
    LEASED 05/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.60
    •  
  • 3901 Old Savannah Court Douglasville, GA 4
    • 4 beds 3 baths ∙ 3,068 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,068 Sqft ∙ Built 1998
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.65
    •  
PROPERTY LISTING DETAILS
The Williams Team
1.404.966.2562
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6811154
Last Updated: 11/21/2020
support@investimateroi.com

Listings identified with the FMLS IDX logo come from FMLS, are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. © 2017 First Multiple Listing Service, Inc.

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